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Rep. Barbara Flynn Currie
Filed: 5/28/2014
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| 1 | | AMENDMENT TO SENATE BILL 2758
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2758 as follows:
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| 3 | | on page 3, by replacing line 16 with the following: |
| 4 | | "(a) The Illinois Secure Choice Savings Program Fund is |
| 5 | | hereby"; and
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| 6 | | on page 3, line 23, by replacing the comma with a period; and
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| 7 | | by replacing line 24 on page 3 through line 2 on page 4 with the |
| 8 | | following: |
| 9 | | "The Fund shall be operated in a manner"; and
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| 10 | | on page 4, immediately below line 5, by inserting the |
| 11 | | following: |
| 12 | | "(b) The amounts deposited in the Fund shall not constitute |
| 13 | | property of the State and the Fund shall not be construed to be |
| 14 | | a department, institution, or agency of the State. Amounts on |
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| 1 | | deposit in the Fund shall not be commingled with State funds |
| 2 | | and the State shall have no claim to or against, or interest |
| 3 | | in, such funds.
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| 4 | | Section 16. Illinois Secure Choice Administrative Fund. |
| 5 | | The Illinois Secure Choice Administrative Fund |
| 6 | | ("Administrative Fund") is created as a nonappropriated |
| 7 | | separate and apart trust fund in the State Treasury. The Board |
| 8 | | shall use moneys in the Administrative Fund to pay for |
| 9 | | administrative expenses it incurs in the performance of its |
| 10 | | duties under this Act. The Board shall use moneys in the |
| 11 | | Administrative Fund to cover start-up administrative expenses |
| 12 | | it incurs in the performance of its duties under this Act. The |
| 13 | | Administrative Fund may receive any grants or other moneys |
| 14 | | designated for administrative purposes from the State, or any |
| 15 | | unit of federal or local government, or any other person firm, |
| 16 | | partnership, or corporation. Any interest earnings that are |
| 17 | | attributable to moneys in the Administrative Fund must be |
| 18 | | deposited into the Administrative Fund."; and
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| 19 | | on page 11, immediately below line 6, by inserting the |
| 20 | | following: |
| 21 | | "(t) Deposit into the Illinois Secure Choice |
| 22 | | Administrative Fund all grants, gifts, donations, fees, and |
| 23 | | earnings from investments from the Illinois Secure Choice |
| 24 | | Savings Program Fund that are used to recover administrative |